HowardThe Merrill Bull Stops Here
December 1st 2008 19:28
Real Crash- Looking at Capitalism and its Laws:
The Merrill Bull stops here
Like the young but grown lad assured his girlfriend, it's really big. The size of the bailout, that is. According to Bloomberg News, it is passing $8.5 billion. And how big is that? To get some idea of what that adds up to, in doing research for his ``Bailout Nation'' book, Barry Ritholz calculated, using inflation adjusted figures, that it is greater than the cost of the Marshall Plan, the Louisiana Purchase, the race to the Moon, the S&L Crisis, the Korean War, the New Deal, the invasion of Iraq, the Vietnam War, and NASA--combined. Combined, those total just under $4 trillion. The only American historical event that comes anywhere near the bailout commitments was World War II, at $3.6 trillion. Still less than half of the current thievery. I guess it would be cheaper to just blow up the world.
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